Accounts receivable entries. (20 points)The ledger accounts given below, with an identification number for each, are used by Entity G which uses the allowance method for uncollectible receivables.

Instructions: Prepare appropriate entries by inserting the appropriate identification number(s) in the debit and credit columns provided, as well as the amount.If no entry/amount is required, write "No."

1Cash6.Sales returns and allowances

2. Sales7.Sales discounts

3. Cost of goods sold8.Bad debt expense

4. Merchandise inventory9.Accounts receivable

5. Allowance for Doubtful Accounts10. Service charge expense

Entry Information

Account(s)Debited

Account(s)

Credited

$ Amount(s)

1.On December 31, 2022, accounts receivable had a balance of $200,000 before adjustment.Entity G expects that 3% are uncollectible.The balance inallowance for doubtful accounts is $500 credit.Make the adjusting entry.

8

5

5,500

(6000-500)

2. On January 15, 2023, Entity G wrote off a customer's $800 account receivable.

5

9

800

3.On March 15, 2023, the customer in (2) returned and paid the full amount owing.

9

5

800

1

9

800

4.On July 30, 2023, Entity G received a customer's $500 payment on an account.

1

9

500

5. (5 points) What is the net realizable value of accounts receivable immediately after the adjusting entry for bad debt expense in Item 1 above?Show your work by constructing a partial balance sheet (classified) showing Accounts Receivable and its related contra-asset account and the net realizable value.